Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.5.0.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities    
Net income $ 560,853 $ 388,825
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 327,366 327,861
Loss on derivatives 1,007 21,893
Deferred income taxes, net 707 858
Gain on contingent consideration   (43,400)
Write-off of deferred financing fees 11,537 195
Provision for bad debts and inventory 1,767  
Share-based compensation expense 48,289 27,857
Changes in operating assets and liabilities:    
Accounts receivable, net (11,286) (9,563)
Inventories (9,133) 1,609
Prepaid expenses and other assets (16,197) (599)
Accounts payable 2,551 (57,837)
Accrued expenses and other liabilities (9,149) 6,996
Advance ticket sales 180,447 308,691
Net cash provided by operating activities 1,088,759 973,386
Cash flows from investing activities    
Additions to property and equipment, net (915,936) (330,808)
Settlement of derivatives (34,300) 1,090
Investment in trademark   (750)
Net cash used in investing activities (950,236) (330,468)
Cash flows from financing activities    
Repayments of long-term debt (2,687,621) (908,677)
Repayments to Affiliate (18,522) (18,521)
Proceeds from long-term debt 2,687,355 375,751
Proceeds from the exercise of share options 4,784 66,527
Proceeds from employee share purchase plan 2,431 858
Purchases of treasury shares (49,999) (7,425)
Deferred financing fees and other (37,457) (6,075)
Net cash used in financing activities (99,029) (497,562)
Net increase in cash and cash equivalents 39,494 145,356
Cash and cash equivalents at beginning of period 115,937 84,824
Cash and cash equivalents at end of period $ 155,431 $ 230,180